Berthel Fischer sees sharp decline in commissions, turns to building RIA
Revenues have dropped sharply, by as much as 40%, at the broker-dealer over the past seven years as the industry moved away from commissions on alternative investments to recurring revenue from managed money products.
Berthel Fischer & Co. Financial Services Inc., an Iowa-based broker-dealer well known for selling high-commission alternative investments, has shifted its strategy to focus more on recurring revenues from fee-based assets at its registered investment adviser, according to the firm's CEO and chai
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